Question: Problem 3-22 Overall ratio analysis is shown next., Sales for the year were $3,510.000, with 75 percent of sales sold on credt STUD CLOTHIERS Balance

 Problem 3-22 Overall ratio analysis is shown next., Sales for the

Problem 3-22 Overall ratio analysis is shown next., Sales for the year were $3,510.000, with 75 percent of sales sold on credt STUD CLOTHIERS Balance Sheet 20X1 Assets Liabilities and Equity Cash $ 39,000 Accounts payable Accounts receivable Inventory Plant and equipment $ 297,000 304,000 Accrued taxes 128,000 294,000 Bonds payable (long-term) 122,000 100,000 488,000 Common stock Paid-in capital Retained earnings 150,000 Total assets 328,000 1,125,000 Toal liabilities and equity $ 1,125,000 Compute the following ratios: Current ratio, Quick ratio, Debt to total asset ratio, Average collection period ratio (Use a 360-day year, Do not round intermediate calculations. Round your answers to 2 decimal places. Input your debt-to-total assets answer as a percent rounded to 2 decimal places.)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!